$SOMI ⚡🛑
🚀 SOMIUSDT: Bullish Reversal Loading? | Technical Analysis
The market structure for $SOMI is currently showing signs of a potential trend shift. After a period of correction, the price is testing a crucial demand zone between 0.219 – 0.224, which aligns with historical support where buyers have previously stepped in.
📉 Market Structure Analysis
Trend Status: Currently in a consolidation phase following a pullback. We are looking for a "Change of Character" (CHoCH) on lower timeframes to confirm the reversal.
Support Zone: The 0.215 – 0.220 region is acting as a "last-ditch" support. Holding this level is critical for maintaining the bullish thesis.
Volume & RSI: Trading volume has stabilized, and the RSI is emerging from oversold territory, suggesting that the selling pressure is exhausting.
Bullish Trigger: A successful bounce from the entry zone targets the immediate resistance at 0.244, which, if flipped, clears the path for a move toward 0.276.
⚡ Trade Setup: Long $SOMI
This setup focuses on a high-confluence entry at the bottom of the current range, offering a solid Risk-to-Reward ratio.
Entry Price: 0.219 – 0.224
Stop Loss (SL): 0.2085 (Protecting below the recent swing low)
🎯 Take Profit Targets:
TP1: 0.244 (Initial resistance & 10% gain)
TP2: 0.260 (Mid-range liquidity zone)
TP3: 0.276 (Major swing high target)
Risk Note: Always manage your position size carefully. A break below the SL level would invalidate the current bullish structure.